Why Provider-Owners Should Think Like an Entrepreneur

Life comes at you fast. 

With shifting paradigms, emerging technologies and evolving patient needs, it is vital for providers to embrace an entrepreneurial mindset to navigate challenges and harness opportunities.

Life comes at you fast. 

In today's fast-evolving healthcare landscape, the role of providers extends beyond the confines of a traditional healthcare practice. With shifting paradigms, emerging technologies and evolving patient needs, it is vital for providers to embrace an entrepreneurial mindset to navigate challenges and harness opportunities.

If you embody an entrepreneurial mindset, you’ll enjoy the fruits of your labor and make your life easier as a provider-owner. Most of our clients don’t think of themselves as entrepreneurs when they start their journey with us. Adopting some of the key mindset differentiators will benefit you, your team, your patients and your bottom line.

A bonus of thinking like an entrepreneur is an openness to seeing opportunities and creating multiple streams of income without a ton more work.

“The important thing is not being afraid to take a chance. Remember, the greatest failure is to not try. Once you find something you love to do, be the best at doing it.” – “The important thing is not being afraid to take a chance. Remember, the greatest failure is to not try. Once you find something you love to do, be the best at doing it.”

— Debbi Fields, CEO of Mrs. Fields Cookies

Below are some entrepreneurial attributes. 

Disruption of Norms. Entrepreneurs are willing to disrupt established norms. Most entrepreneurs don’t see work as a means to an end; they view it as an opportunity to challenge the status quo and create innovative solutions to problems. One example is the internet: it’s changed how we communicate, do business and gather information. 

Our clients disrupt the status quo in healthcare by committing to a patient-focused approach, bucking against the constraints of insurance companies, employing a revenue share model, or by moving away from allopathic medicine into the complementary realm to address root causes of pain and disease. 

Resilience. Resilience is defined as the ability to bounce back from setbacks and persevere in the face of adversity and obstacles. What makes entrepreneurs more resilient is a connection to a strong sense of purpose for their work. Sound familiar?

Support Network. Wise entrepreneurs cultivate a support network that includes mentors, coaches, therapists, peers and family members to provide emotional support and encouragement whenever needed so they’re better equipped to handle the ups and downs of business ownership.

Growth Mindset. If you’re not familiar with the work of Carol Dweck, here’s the quick and dirty: Someone with a growth mindset views intelligence, abilities, and talents as learnable and capable of improvement through effort. On the other hand, someone with a fixed mindset views those same traits as inherently stable and unchangeable over time. 

What this means for you as a provider-owner is you’ll see opportunities for learning and growth even when things go sideways, as they occasionally do. Think: global pandemic and the need to switch gears quickly. The willingness to be agile and change with the times during the pandemic helped a lot of businesses through uncertainty and economic downturn. 

Failure as Learning. Along the lines of a growth mindset, entrepreneurs see “failure” as learning opportunities. Mistakes are healthy and signal that old ways are being challenged, and new, more efficient ways are emerging. 

Seeking perfection is the death of creativity, and guess what? Perfectionism is a fixed mindset. There are always opportunities to learn, so seeking perfection ought not be the goal. 

A few more attributes. Understanding that your big results come from your smaller combined efforts; discipline is a prerequisite for sustainable success; adaptability is key to longevity (adaptability is different from resilience in that one is able to adapt and adjust to circumstances and create new solutions to challenges); and finally, having competition means you’ve got great research subjects nearby.

One of our clients, Dr. Andrew Orr, is a women’s health specialist in Brisbane, Australia, and his growth mindset and ability to see problems as opportunities helped him solve a serious challenge and create a lucrative additional stream of income. 

Several years back, there was a six month backlog for nutritional supplements. Rather than wring his hands, he seized the opportunity and started his own line of herbal medicine and nutritional supplements. Now he doesn't worry about his patients having access to what they need, he has control over quality and formulation, and he has a steady additional revenue stream.

Entrepreneurship is like gardening. Just as a gardener carefully tends to the soil and their plants, an entrepreneur nurtures ideas, opportunities, and resources to help them grow and flourish. Both require patience, attention to detail and the ability to adapt to changing circumstances. Like a gardener, an entrepreneur must have a long-term vision and be willing to take risks, knowing that with the right care and perseverance, their efforts could yield bountiful rewards.

How can you develop the mindset of an entrepreneur? There’s not one singular way, but we recommend you start by accepting that you are an entrepreneur. A logical next step is to check-in with your network. Are there other practice owners in your circle that you can confide in? It’s easier to thrive as a practice owner when you have the right kind of support. 

We also recommend that you consume supportive media like reading articles in Inc.com, Entrepreneur and Harvard Business Review, or books such as just about anything written by Seth Godin, or the book we have all of our clients read, “The Big Leap” by Gay Hendricks. If you like podcasts, check out The Masters of Scale, HBR Idea Cast, or my personal favorite, Anchored Intelligence, hosted by my coach, the amazing Eleanor Beaton. These are a few ideas to get you rolling and to support you in your journey.

I can confidently tell you that owning a practice is an undeniably entrepreneurial endeavor, and Oxford Dictionary backs me up with the definition: “Entrepreneurship is the activity of setting up a business or businesses, taking on financial risks in the hope of profit.” 

Embracing an entrepreneurial mindset will complement your medical expertise and help you create a thriving practice that positively impacts the health and well-being of the community you serve. It will also bolster you during difficult times, shore-up your ability to adapt to change, and help you see opportunities for growth where others see obstacles.

Our mission is to support you to take back your time, grow your practice and elevate your leadership so you can make a lasting impact on your patients’ lives and in your community. To learn if working together is a fit, click here to schedule your complimentary 45 minute strategy session. 

Listen to Tracy’s solo episode about entrepreneurial mindset on our podcast, Thriving Practice.

Navigating Healthcare Challenges for Post-College Individuals: Insights and Solutions

Transitioning from college to the professional world brings a range of new responsibilities for young adults, including managing their healthcare. Many individuals encounter difficulties accessing appropriate healthcare services, particularly in finding OB/GYNs, primary care doctors, and affordable care options. 

In a perfect world, national healthcare plans would not be dependent upon employment or income; however, in America that is not the case. By sharing the challenges young adults/post-graduates face once stepping out of the cocoon of schooling, we hope to share the importance of affordable and accessible healthcare. 

By discussing issues such as pap smears, cost, finding an appropriate healthcare provider for individual needs, and how to navigate health insurance in the ever-growing freelance age, we aim to shed light on only a few challenges faced by post-college individuals and offer insights and solutions to navigate these obstacles effectively. 

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The Pap Smear Conundrum: Breaking the Silence

Young women often find themselves at a loss when it comes to pap smears, a vital screening for cervical cancer detection.

Inadequate knowledge about pap smears and the appropriate age to start getting them leads many young females to overlook this crucial test. The silence surrounding this topic in health courses and the lack of discussion by primary care providers leave them in the dark, unaware of the importance of early detection. 

A lot of females, like myself, find themselves sitting in the physician's room at twenty-two or twenty-three years old being told they are late with getting their first Pap smear. How could any of us be “late” when we didn’t know twenty-one was the age to begin getting routine Pap smears every few years? 

Moreover, primary care providers have a responsibility to proactively discuss pap smears with their young female patients. By initiating these conversations and providing clear guidance on when to start screenings, healthcare professionals can ensure that no woman falls through the cracks and misses out on necessary preventive care.

Breaking the silence surrounding the pap smear conundrum is essential for empowering young women and protecting their health. By raising awareness, promoting ongoing education, and fostering open discussions, we can ensure that every woman receives the necessary information and support to prioritize her reproductive health. 

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Understanding Abnormal Pap Smear Results

Abnormal Pap smear results can leave women feeling anxious due to unclear explanations from healthcare providers. It is imperative to seek follow-up care and further medical advice to address any potential complications. Only some providers will share that it is completely normal to receive abnormal results the first go-round. What do abnormal results even mean exactly? Abnormal results from a Pap smear mean cell changes were found in your Cervix; however, it does not necessarily mean you have cervical cancer. These changes can be minor or low-grade, and in most cases go back to normal on their own. Though, routine checks are essential for familiarizing females with their bodies and feeling confident to know when something feels off. 

The Search for Healthcare Providers

Post-college individuals frequently encounter challenges when searching for suitable primary care doctors, resulting in gaps in their healthcare management. The transition from student health services to independent care can be daunting, and navigating the healthcare landscape can be overwhelming.

The struggle to find a primary care doctor who meets their needs often leaves post-college individuals without a consistent healthcare provider. Post-college and young adult needs vary from finances, racial connection with providers, telehealth options for lack of transportation, and specialty care needs. This can lead to missed preventive care opportunities, delayed diagnoses, and fragmented healthcare experiences.

Closing these gaps in healthcare management requires proactive steps. Exploring online directories, seeking recommendations from trusted sources, and reaching out to local community health centers can help in finding suitable primary care doctors. 

In the newfound digital age, our generation relies on healthcare and insurance providers to have an online presence beyond generic search pages. Having accessible information that is easily digestible instills confidence in those who are weary about making appointments. Beyond that, more practices offering telehealth allows the younger and older generations to take appointments in the comfort of their own home. 

Building a strong patient-provider relationship is crucial for receiving comprehensive and personalized care, as well as establishing a trusted source for healthcare guidance.

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Affordable Healthcare and Birth Control Options

Access to affordable healthcare and birth control remains a significant challenge for many young women and adults, particularly those with unstable employment or inadequate insurance coverage. The cost barrier often prevents them from accessing necessary healthcare services.

It's essential to go beyond traditional birth control options like the Pill and raise awareness about alternative methods that are equally effective, available, and more affordable. From long-acting reversible contraceptives like IUDs and implants to barrier methods like condoms, there are various options to consider based on individual needs and preferences.

Addressing the affordability issue requires a comprehensive approach. Advocacy for accessible healthcare services, including reproductive health, can help ensure that young individuals can access affordable care and necessary birth control methods. Public education campaigns, insurance coverage expansion, and increased availability of low-cost or free clinics are key steps toward bridging the affordability gap.

No person should be denied access to essential, high-quality healthcare due to financial constraints. By acknowledging the cost barrier and promoting awareness about affordable birth control options, we can work toward a more inclusive healthcare system that provides equitable access to reproductive healthcare for all.

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Insurance Challenges in the Freelance Economy

In the growing freelance and contract work landscape, obtaining affordable and comprehensive health insurance coverage has become a luxury for many individuals. The absence of employer-provided benefits poses unique challenges, leaving freelancers to navigate the complex world of insurance on their own.

Fortunately, there are alternative options available for freelancers to explore. Professional organizations may offer group health insurance plans or resources to help freelancers find more affordable coverage. 

By sharing information about these alternative options, freelancers and others can gain a better understanding of the resources available to them. Accessing affordable healthcare should not be a privilege limited to those with traditional employment. It is important to advocate for policies and initiatives that address the insurance challenges faced by those who lack full-time positions and ensure they have access to the coverage they deserve.

In the freelance economy, insurance challenges are real, but solutions exist. A few places to begin are with the Affordable Care Act, also known as Obama Care, HealthCare.Gov which offers a lot of options for those who are self-employed, and COBRA offers affordable healthcare options to those as well. The majority of self-employed, government-assisted plans are accepted by providers.

Post-college individuals face a multitude of challenges when it comes to accessing general healthcare, understanding their options, and managing their reproductive health. By empowering individuals to advocate for their healthcare needs, we can work towards a more inclusive and supportive healthcare system. 

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In the grand scheme of everything, healthcare providers are pivotal in advancing accessible care by advocating for policies and practices promoting inclusivity and affordable options. Providers can become allies to help ensure accessible healthcare for all. 

For providers looking to engage in advocacy, there are resources available to support their efforts. One example is the "Healthcare Advocacy and Policy" program offered by the National Healthcare Advocacy and Communication Association (NHACA). This program equips healthcare professionals with the knowledge and tools needed to advocate effectively for accessible care at local, regional, and national levels. 

If you’re a provider who would like to grow your practice without overworking, and you’re passionate about supporting your patients, schedule a complimentary strategy call. We can help you grow your practice, recapture your time, and bring your focus back to providing the highest level of care for your patients. 

Together, we can ensure that every human has access to the healthcare they deserve, regardless of their age, insurance coverage, or employment status.

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WE NEED YOUR EXPERTISE

At Tracy Cherpeski International, we are writing a white paper for provider-owners to address the challenges of being a provider and business owner, specifically the challenges of juggling administrative and clinical duties with patient care. We are interviewing 100 practice owners for our research.

We appreciate you sharing your time with us to support our research. Our working thesis is that current research about providers is limited at best, and often does not address the challenges and needs of practice owners. 

We will use the results of our survey to write a white paper that will benefit practice owners and their teams from a business operations perspective. We will be delighted to share the white paper with you when it is completed.

Unlocking Business Success: The Power of Combining Business Coaching and Consulting Strategies

Don’t hire a business coach or consultant until you’ve done some soul-searching (and research!) about what you need. You may figure it out along the way, but you’re better off having an idea of what you want to achieve before you look to hire someone.

If you’re unsure about what you want, you’ll get mixed results, no matter who you work with - coach or consultant - how good they are, or their past clients’ results.

Descriptions of coaching and consulting, according to the International Coaching Federation (ICF) are below:

ICF defines coaching as partnering with clients in a thought-provoking and creative process that inspires them to maximize their personal and professional potential. Coaching is a client-driven process… With coaching, the assumption is that individuals or teams are capable of generating their own solutions, with the coach supplying supportive, discovery-based approaches and frameworks.

Consulting: Individuals or organizations retain consultants for their expertise. While consulting approaches vary widely, the assumption is the consultant will diagnose problems and prescribe and, sometimes implement solutions. 

There are some key differences between coaching and consulting:

1. Focus. Business Coaching focuses on the personal and professional development of the individual or team. Through a process of exploration, the client generates their own solutions with the support of the coach. 

   Consulting is focused on solving specific business problems or challenges, and providing expert advice. The consultant often provides the solutions and method of implementation, and may support the implementation process, or implement the solutions themselves. 

2. Approach. Business Coaching is collaborative and involves working with the coachee to improve their leadership, communication and decision-making skills, and developing individual abilities. 

   Consulting tends to be more directive and involves providing analysis, solutions and recommendations to the client.

3. Timeframe. Business Coaching is an ongoing process with regular meetings over an extended period of time. 

   Consulting is typically a project-based engagement with a specific timeline and deliverables.

4. Outcomes. Business Coaching outcomes are generally focused on personal and professional growth, leadership skills, and larger strategic objectives. 

Consulting aims to achieve specific business objectives, or to solve particular problems or challenges.  

While there are fundamental differences, there are benefits to working with a professional who can combine these two valuable services into one packaged offering. 

In our experience, the two can be kept very separate; however, our clients get the best results from a combination of coaching and consulting. 

Project-Based Consulting

We worked with a physician who was preparing to open a multi-modality practice where she would be the consulting physician. She engaged us for project-based consulting to open her integrative wellness center. 

She had already handled the legal and accounting details, secured a lease, and was beginning the build-out of the space. We worked with her for six months to establish the business model, set the operational flow, and get clear about the pricing structure for elective and ancillary services. We also engaged a medical marketing expert to build a patient base.

This was a fast-paced, challenging and exciting project. As the expert in the role of consultant, I took the lead on research initiatives, making introductions in the community, and was integral to the hiring process. It was incredibly gratifying to support this client from concept to grand opening and beyond. 

One of the limitations of a consulting-only relationship is the lack of time and a framework for coaching through challenges or if the client gets stuck when they need to make quick, clear-headed strategic decisions. 

The consultant has very specific guardrails, and due to time and other constraints, must stay in their lane. This presents major challenges if the client is lacking clarity or has a tendency toward analysis paralysis. 

Business and Executive Coaching

Early in my coaching career, I shied away from giving direct advice or solutions to my clients, even when they would get stuck on a business problem. This presented a dilemma because being a practice owner requires clarity, agility, and quick decision-making. Since I have extensive consulting experience, I started to incorporate opportunities for my clients to ask for solutions to their pressing business issues. 

The results were remarkable. My clients implemented the solutions I provided while continuing to work on their personal and professional growth. They reached and exceeded their business and professional goals, often way ahead of schedule, and we attribute this to their dedication to their own growth, and to getting support with specific business challenges. 

Coaching + Consulting

Most of our clients now work with us for combined coaching and consulting. One of our clients owns a regenerative medicine practice, and engaged us to work with them and their team to refine operations and patient service. We started with a full-day VIP strategy session to determine their strengths, main business objectives, and to define the scope of work.

We approached consulting in a collaborative manner to ensure the solutions we provided were tailored to fit their specific needs. Deliverables included business operations manuals, scripts for reception, and administrative training manuals. 

I coached the owner on communication skills, streamlining aspects of his role to conserve time and energy, and on raising awareness to the signs of burnout so he could head it off at the pass. I coached the head nurse, who is also the practice manager, on developing her leadership and communication skills, and delegating tasks that didn’t belong on her plate. 

Over the course of 18 months, what had been a disorganized practice with inconsistent revenues became a calm, spa-like environment with happy staff and patients-turned-repeat-customers, who became their main source of referrals.

The combination of coaching and consulting will support you in strengthening your leadership skills, and can accelerate the pace to reach or surpass your goals. 

If you’re uncertain about how to reach your goals, we recommend you speak with several experts to determine fit, and gain the clarity you need to become an agile and exquisitely fulfilled practice leader.

I would be honored to be one of the experts you speak with to see if working with a coach and consultant is right for you. 

We provide a proven, impeccably designed method to help you scale your practice while preserving your most precious assets: your time and energy. 

Click here to schedule your complimentary 45 minute Practice Assessment Strategy Session. 

3 Ways to Increase Staff Retention in Your Healthcare Business

“Good help is hard to find.”  

“The labor market is terrible.”

“I’m worried we’ll never find good people.” 

“This generation doesn’t value hard work.”

I often hear this early-on from my clients. 

The medical and dental field is fast-paced, and being the practice leader requires a lot of you, maybe even some kind of “super human” capabilities, which I hope you know is an unrealistic expectation. 

The solution is simple, but not necessarily easy, and will require you to gain clarity, learn to let go of some control, and trust that when you step into your CEO shoes, you will get the results you desire.

With turnover rates high, 26% in healthcare in 2022, you’re challenged with hiring well, training, providing sufficient support to your team, and creating a healthy workplace. You also have the pleasure of being the team lead, even if your practice manager is in charge of hiring, firing and training.

Some of the primary reasons for turnover are: 

• Staff is overworked 

• Work environment is stressful

• Lack of decision-making power

• Lack of recognition and direction from the top

I’m going to focus on the last reason, lack of recognition and direction from the top. I assure that you all are important, though in my experience in my 12 years of coaching and consulting clients, focusing on one area can often be supportive in addressing other sticky areas in need of attention. 

Here are 3 ways to increase employee retention:

1. Get clear about what you want for your practice. Look at the big picture and all the details. If my clients haven’t done this yet, we spend a day together in a VIP intensive to comb over the details, operational flows, wish lists and goals. With this clarity, we’re able to start working on updating, or in some cases, writing drafts of the operations and training manuals (what I lovingly refer to as the “office bibles”). 

   Once we’ve done this, we start to plan how they’ll communicate their mission, vision and expectations. 

2. Communicate your vision with your team. When I was a manager in a luxury health club, every employee was expected to know the company mission and values statements, and we were informed that we could be visited by secret shoppers at any time, so we needed to be ready to recite them. We were taught to embody, practice and consistently demonstrate the company values. As a result, our clients were genuinely happy, and the staff turnover at the location where I worked was low compared with the rest of the industry. 

   As employees, we knew what was expected of us and how to do our jobs. Job descriptions and company policies and procedures were crystal clear. As a new hire, I spent three days in their corporate headquarters in hands-on training, and was offered unlimited and unchallenged support for any questions or uncertainties that might arise. In short, I knew exactly what they wanted from me in my role, and how to meet and exceed their expectations.

3. Follow up like the wellbeing of your practice and team depend on it, because they do. Keep the lines of communication open. Trust but verify. Make sure your employees are empowered and sufficiently supported to do their jobs. Let go of control as much as possible, AND, check in with them regularly.

   I recommend that you bookend each day with a morning huddle and an evening debrief. These should last no longer than 10 minutes each, and ideally you ask questions and listen while your practice manager documents the details. You will follow-up in your weekly manager meeting. If there is a need for more staff follow-up, your practice manager can handle that.
   

One of my clients is a provider and owner of a practice with 10 providers, 10 technologists and 5 administrative professionals in two offices; the providers and practice manager work remotely. The practice more than doubled in patient demand, number of providers and technologists over a two year period. By any standard, this is huge growth in a short period of time. When we started working together, the turnover at the practice was well below industry average, at less than 10% turnover for several years. However, morale was dipping and frustrations were mounting.

My client was concerned about how this would impact the practice overall, and wanted to get a handle on it. I conducted several interviews with their team at all levels and length of tenure. I learned that every person who worked at the practice held the owner in the highest regard, and they all expressed they felt they were lacking direction, and some of the administrative team felt underappreciated and overworked.

I reviewed the interview results with my client and their practice manager, and before we set to work writing operations and training manuals, we got back to basics. 

We re-visited the practice mission and values, and put those in writing. Then, in collaboration with department heads, they updated their manuals. Once they had good working drafts (I recommend that these are living documents, to be adjusted incrementally over time), we planned implementation. They started having shorter, more frequent meetings for each department, and full-practice meetings. After a few months, my client told me it seemed like everyone had breathed a sigh of relief. The practice continues to be incredibly busy, and yet morale is at an all-time high. They have had zero turnover in the last year. 

Notice that morale is at an all-time high, and they didn’t put ping pong tables or snacks in the break rooms or go on fancy trips. They got clear about their mission and expectations, communicated them clearly with the team, and implemented a system for followup and quick resolution for issues that arise.

If you want to have a happy, engaged team, you don’t have to get fancy or complicated. Get clear. Communicate. Follow-up. Rinse, repeat.

If you would like support in improving morale and retention, schedule a complimentary Practice Assessment Strategy session. We help our clients navigate the challenges of being a provider-owner by taking back their time and finding the right strategy to grow their practice without burning out. 

We’d be honored to explore what’s possible for you and your team. 

Balancing the Third Shift

“Are we a good place for women physicians to work?” A question posed by executives as a result of short-term challenges caused by the pandemic. Jessica Dudley, Sarah McLaughlin, and Thomas H. Lee of the Harvard Business Review delves into the challenges women physicians are facing uncovered by post-pandemic stress. 

It is no secret physicians and those in healthcare are still experiencing the collateral mental health effects of the Covid-19 pandemic—specifically burnout in healthcare providers.

Post-pandemic stress OR stress uncovered by the pandemic?

One study noted women are more likely than male physicians to be responsible for the third shift. What’s the third shift? The third shift happens immediately upon entering the home after a day of work. Women are 25% more likely to be responsible for childcare and schooling, and 31% more responsible for household chores. 

Women are clocking in for the third shift the moment they walk through their front doors. Which leads to burnout, then higher turnover rates, especially in the medical field. 

The challenges and responsibility of the third shift women face does not grant them the flexibility to tend to their professional responsibilities while still enjoying their personal lifestyle. 

Gender inequality is partially to blame for making physician burnout worse; however, it’s safe to note not recognizing the differences in the demands of gender roles worsens the issue.

Society, especially in the U.S., is rooted in traditions carried over for decades. Gender roles have morphed and changed throughout the recent years, though, men continue to be applauded for taking care of their children and cleaning the house without the woman’s assistance—when that is another day in the life of motherhood. 

What does this have to do with healthcare providers and physicians? The environment provided upon hiring affects women physicians and providers professionally and personally. Recognizing employees have personal lives outside of their professional careers not only aids in their development with the practice, but also lessens the risk of burnout and turnover. 

Women physicians need a supportive environment. What should that entail? Longer maternity leave for both men and women. Flexible, non-consuming work hours. Equal pay to the man’s dollar. These are only a few examples that support women physicians in the practice.

Gretchen Livingston and Deja Thomas of Pew Research report as of April 2018, the United States ranks last in government-mandated paid leave for new parents. 

Building a successful practice stems from the benefits provided to employees. Providing an environment for your employees to succeed, in their professional goals alongside their personal goals, cultivates lower rates for burnout that eventually leads to turnover. The lasting stressors of the pandemic will linger in workplaces, especially healthcare, until providers restructure their practice—putting employees and patients first. 

Now, your needs as a practice-owner do not diminish when it comes to providing better care for your employees. The needs of your employees heavily rely on the balance and structure you provide for yourself, as a practice-owner. Allowing your employees to experience the benefits of fair pay—regardless of gender or race—providing extended maternity/paternity leave for parents, and creating a fair and inviting place for patients benefits the practice by providing growth and success. 

Are you ready to squash the demands and burnout of the third shift? We are able to support you in tailoring your practice to support women in the workplace, alongside assisting in navigating the challenges of restructuring your business. In doing so, we help you get clear about the strengths of your practice and uncover areas that need improvement. We help you get clear about your vision, mission, and desired outcome.

If you would like to talk about strategy and restructuring your practice to accommodate the needs of working parental figures and how to implement gender equality into your practice, schedule a complimentary Practice Assessment Strategy call. We look forward to creating the possibility for growth for you and your team.

Why Coaching?

Photo by Drew Beamer on Unsplash

Why Coaching?

You are the practice leader. Working with a coach can add a valuable set of learning tools in your practice leader toolkit. A coach can help you match the right solutions to the challenges you may face in growing your practice.

As a provider, you might not have given much thought to being a leader, because you probably started your practice with the grand idea of helping people, not developing yourself as a leader. But the truth is, as a business owner, you are in the leadership business, and rather than resist it, you could develop your skills as a leader and give your staff the tools they need to support the growth of your business and your overall mission.

Below are four compelling reasons for practice owners and their team to work with a coach.

1. Establish a clear vision, and get your team engaged with that vision.

If you have struggled to motivate your team and staff members, know that you are not alone. Building a strong vision and goals, and helping your team connect with that vision will increase everyone’s success and fulfillment. (And we know that happy staff are loyal and productive.)

2. Honest and timely feedback on effectiveness of systems and leadership.

You need an unbiased truth-teller, and an objective view of how your leadership contributes to your overall success. Coaching will help you build on your strengths while your practice manager and support staff learn to take charge of their contribution to the success and growth of your practice.

3. You need someone to guide you through reflection and self-analysis.

Anyone who has worked with a coach will tell you that the best part of having a coach is the ability to clear the decks on a regular basis to think and strategize without distractions. This accelerates your development as a leader by encouraging you to reflect and grow, and your coach will offer you tips, tools and the benefit of the breadth and depth of their experience.

4. Help with improving your ability to anticipate, strategize and stay on track.

Maximize your practice potential by improving work performance and team effectiveness. With the clear vision, feedback and appropriate delegation of responsibilities, each person will gain insight and will experience mindset shifts that lead to new behaviors and better results in all areas of growth: self, team and business-management. This encourages everyone to think bigger, act more courageously, and realize greater possibilities.

If you want to achieve beyond your wildest dreams (or beyond the limitations you can't seem to surpass) then why not schedule a one-hour complimentary Practice Assessment Strategy Session with me to see if we can crack the code? One hour can change everything. 

High Turnover? Maybe It’s a You Problem

I said it. Maybe turnover is a you problem. 

Stay with me here. 

If you follow the news, economic forecasts or anything remotely connected to the outside world, you’re hearing a lot about recession and labor shortages. So, logically, that could explain why your practice is experiencing high turnover. And that’s that, right? 

Except, it’s not. I wish it were simple, but if it were, then you’d be destined not to have a capable, well-trained team working with you. It’s not that you’re a bad boss or yours is a toxic work environment (if it is, that’s a whole other conversation). 

You need a different strategy.

Let’s look at some facts. Turnover is expensive in terms of money, time and energy. Hiring and training new staff is time-consuming. It can also be a huge energy drain to you and your team on top of keeping your practice running. Labor statistics show the cost of turnover is at least equivalent to that position’s salary, if not several times multiplied. That’s compounded by lost productivity, decreased speed, training and the time that position remains vacant. 

Most data on healthcare turnover is from studies on hospital centers, so these numbers may be a little different for your practice, but let’s take a look at an example:

According to the 2022 NSI National Healthcare Retention & RN Staffing Report, the RN turnover rate in 2021 was 27.1%, and the average cost of turnover for a bedside RN is more than $46,000, which costs the average hospital between $5.2 million and $9 million per year. Each percentage point increase or decrease in turnover represents a loss or savings of $262,300 per year. 

Let’s say your practice runs best with seven full time RNs and your turnover is 27%. Two RNs leave this year. The cost is over $92,000 to hire two more nurses. If your turnover stays at the same rate year over year, you’ll be carrying heavy costs to keep up with your staffing needs. You can do the same math for any position at your practice and see the impact on the bottom line. This doesn’t take into account the time spent writing, placing and managing posts on employment sites, interviewing candidates and all of your due diligence before bringing on a new team member. And then there’s the aforementioned training period and human power required to work with your new employee before they’re up and running.

You need a different strategy. 

One of my clients has a complementary medicine practice in a small, rural town. In general, their location and the low population density are challenging enough, not to mention a glaring shortage of registered nurses. So, when they needed to hire an RN to run the clinical side of the practice, we had several angst-ridden conversations about whether finding a qualified, experienced candidate was a pipe dream, or if it could indeed become a reality.

Rather than get stuck on the “fact” that it’s hard to find qualified RNs willing to work in a small private practice, we decided to make them stand out as an employer. I also reminded my clients that they needed only one impressive candidate to fill this role. To facilitate this, we dedicated a coaching session to outlining their strengths and what sets them apart as a private practice. 

In the job post, we highlighted the practice’s hours are basically banker’s hours, Monday thru Friday, so candidates knew they would have a consistent schedule, which was a huge draw. They also offered competitive pay with additional benefits like healthcare, education stipend, and support with their own health and wellness at low or no cost to them. 

Because this client’s practice is dedicated to seeking and treating the root cause of disease and chronic illness, we focused on their mission and commitment to their values. We also addressed staffing shortages (a major reason RNs cite leaving their jobs) by showing my client’s commitment to making their practice an intimate, spa-like experience for their patients. Their schedule would never be overbooked. For the exhausted, burned-out nurse, this created an opportunity to work in an environment where patients choose to be there, are dedicated to improving their health, and where the employer is committed to keeping stress levels low and job satisfaction high. 

Our intention was to make it clear that working with my client could present an opportunity to boost their clinical knowledge and to work in a calm, beautiful setting with a doctor who is committed to helping their patients heal and take charge of their wellbeing. 

This strategy helped my clients find the ideal candidate who was growing weary of seeing patients in her previous role getting sicker, and she was thrilled to find a position where her schedule was predictable. She was qualified to step into a leadership role as the clinic manager, so this worked out to be a win-win scenario. Do you want to know how many candidates they interviewed? Three. They were all good candidates, but the one they hired stood out above the others.   

There’s no question that these are challenging times. Staffing shortages are real. Burnout is real. But you don’t have to get the short end of the stick because of this.
You can take a different strategy: 

• Get clear about your strengths and what sets you apart from other practices. 

• Get clear about your mission and vision, and communicate them with your team and prospective employees. 

Lean in to your strengths and vision, and a whole lot can change for the better.

We help our clients navigate the challenges of being a provider-owner by taking back their time and finding the right strategy to grow their practice without burning out. If you’d like to talk strategy with us, schedule a complimentary Practice Assessment Strategy call. We’d love to see what’s possible for you and your team.

To Pivot or Not to Pivot: Learn the art of the 3Cs

To pivot, or not to pivot, that is the question. OK, so I’m not a philosopher, per se, but I am curious when 2020 will come take home its drunken pivot.

In today’s world where everything seems to be changing at warp speed, it’s easy to get caught up in the FOMO worry trap and start thinking you might need to make a pivot in your business, especially if you’re experiencing a slow down, or you’ve changed some tactics and they don’t seem to be working the way you had hoped or planned.

But we keep getting push-pull messages from the social media business gurus (wish you could see my air quotes and eye rolling…I’m going hard here!)

“Your business isn’t growing? PIVOT!”

“Not getting the new patients/clients you want? PIVOT!”

“Feeling somewhat insecure and uncertain about the pending/in-progress recession? SHARP RIGHT TURN!”

“Shiny! Squirrel! Tap-tap-tap on your pain points and insecurities.”

This all serves to distract and detract from achieving your ultimate success.

Here’s the thing. If you’re experiencing some slow down in your business, or you’ve recently made some changes and you’re not seeing the RESULTS you want…yet…maybe you need to take a deep breath and slow way down.

By now, you know I’m a big, huge fan of the slow down to speed up or scale up method of business strategy, so let’s start there.

If you’re lacking clarity, you’ll get mixed results. Period, full stop. This is true for marketing, sales, and operations.

It’s important to start with getting clear about what you want to accomplish, and how you plan to do it. You can listen to my podcast Episode 58, and you can also access a free resource on my website to help you get crystal clear about your vision.

Once you’re clear, you’ve got to make a commitment to do whatever you’re trying (say, a marketing campaign, networking, or something operational within your business) whatever it is, commit to it for no less than two weeks, and possibly up to a couple of months, without changing anything. You’ve got to give new ideas and new systems time to breathe and do their work.

Kind of like baking a cake.

While you’re letting your cake bake and rise, you can turn on the oven light and peek inside to measure and track progress, right? Same with any adjustment you make to your business. Gather your data, compare, contrast, and see how it goes.

After some time has passed, if things aren’t going the way you want them to, NOW it’s time to make a slight change.

Let’s be clear, though. Unless you forgot a key leavening ingredient, your cake will rise. So, when we talk about making a slight change, we’re talking NOT throwing the whole thing out and starting over, or scrapping an entire initiative in your business  just because the results haven’t shown up yet. We’re talking about what I call Constant Course Correction. So the 3 Cs followed by TMAA - test, measure, adjust, allow.

We test. Measure. Adjust. Allow. Rinse, repeat. TMAA.

You adjust one thing at a time, otherwise you won’t know what is and isn’t working. Data and time are your friends here.

Why constant course correction rather than a major pivot? Because, like space shuttles, you may appear to be off-course up to 97% of the time, but with testing, adjusting, and communication with the mother board (in this case, your business analytics, your strategic brain and your team’s input and support) you can reach your desired destination. Did you know that the shuttles land in the correct location 94% of the time? Those are some damned good odds. Be like the space shuttles.

We tend to think in absolutes when we get frustrated or impatient. Part of our charm as business owners is that we agitate and constantly look for ways to do better, build something bigger, make a bigger splash. It can also be our achilles heel, not having the patience and trust required to allow what we’re testing to work its own magic. Let the cake bake. Trust yourself.

The point I want to really drive home is this: if you’re lacking clarity, you’ll get mixed results, and that can lead you down a bumpy road of doubt, failed initiatives, and potentially could be quite damaging to your business.

Yes, it always comes back to clarity. From there, you can build-out the incremental changes you want to implement, and Test, Measure, Adjust and Allow in multiple iterations until you find the right formula. Give your one-at-a-time changes room to breathe and grow, like you would a cake in the oven, and don’t change anything until you have gathered the data you need from each iteration.

I promise you will save time, energy and mucho dinero (that’s boatloads of money for non-Spanish speakers) by reviewing, analyzing and making slight adjustments over time. Again, one adjustment at a time.

I share a client story about the 3Cs and TMAA over at the podcast. Go give a listen, and remember to share your review with us so more business owners like you can find us.

Why I Do What I Do, For the People I Support

This is a very personal share. I was so scared. When my daughter was 7, she was quite sickly. She was losing weight, having major GI distress, had a few cavities, several UTIs, multiple unexplained sprains, and lots of urgent care visits. I’m sure you can imagine I was worried. 

I was frustrated with her pediatrician and pediatric dentist. If I had a nickel for every time they asked if I was giving her juice, and that’s why she was having diarrhea and getting cavities…Nevermind that there were several interviews about the UTIs and sprains, for which I am thankful, for the children who may be in terrible situations and need outside help. 

The last straw was when the pediatrician said the only explanation he could come up with was that she was making herself sick due to her father and I divorcing 2 years prior, and that she needed to see a psychologist. I was flabbergasted and righteously angry! 

I changed pediatricians. The new pediatrician said it was time to get answers, so he referred us to a pediatric GI specialist. GI suggested upper endoscopy, which we dutifully did, and let me tell you, my sweet baby was so dehydrated that they had to stick her 8 times to get an I.V. in for the procedure. She still cries when she gets shots or blood work done, and she’s 18 now. 

The shortened version of this story is that the GI didn’t know what else to tell us, so he gave us 3 prescriptions for the symptoms, to be taken indefinitely. Again. Flabbergasted. When I asked why this would be the protocol and not a recommendation for nutritionist or dietitian, he said, in front of my scared 7 year old, that she would get cancer if I didn’t follow this protocol. Can you imagine!

Frustrated and frightened, I called a friend to vent, and she asked if I would be open to taking her to a naturopath. I was desperate and willing to try anything, even if it meant paying out of pocket. My baby was not thriving, and all I wanted was to help her feel better so she could get back to being a kid.

The naturopath took one look at her recent history, the endoscopy pictures and the list of complaints and said, “In D.C. we’re not allowed to diagnose, but IF WE WERE, I’d say it’s Celiac. She checks all the boxes. So, we’re going to treat her as if and see how she does.” BOOM! Celiac was much harder to diagnose almost 12 years ago, so this was a huge relief. 

In the first month on the protocol, my daughter’s tummy issues cleared, her aches and pains went away, her hair, skin and nails got healthier, and she grew more than she had in the previous 18 months! 

I was sold on complementary care from that point forward. The naturopath and her team saved my daughter from years of pain and poor health. It was so simple, and our new pediatrician was totally on board with the protocol, singing the praises of our naturopath. Now we always have an integrative provider in our world, and we always will.

Flash forward a few years. The first complementary medicine doctor came to work with me to grow their business. Then another, and another, and I realized that I had something that resonated with providers: I could help them get control over their time and energy while growing their profitability. I was helping them learn to slow down to scale up. 

My skill set matched their needs, but I firmly believe that our connection was sealed by my belief in their mission, and in their ability to sleuth to find root causes of their patients’ pain and discomfort. 

I get it, and I get them. Because of my experience with my daughter, I have a heart for complementary healthcare providers. 

I am on a mission to help practice owners decrease the chaos and overwhelm in their practice and get out of the “Success Trap” so they can get back to doing their great work. 

I help practice owners serve more patients and rise as experts in their areas of speciality so they can change the system from the inside-out. At the heart of it, my clients and I are puzzle solvers, and we’re committed to finding and eradicating the root cause of discomfort and frustrations so our clients and patients can stop merely surviving and begin THRIVING.

If you’re caught in the Success Trap (working all the time, worrying about finances, struggling with decision fatigue, tired of juggling and wearing multiple hats, losing sleep, etc.) schedule a time to speak with me. Let’s talk about what you really want, why it’s important to you, and how you can succeed beyond your wildest dreams, while taking back your time AND enjoying the fruits of your labor.

PS. In case you’re wondering, my daughter is graduating high school next month and heading to music school in the fall. I’m so proud of her, and grateful that she’s thriving and living her best gluten-free life!

About Our Mission:

We help mission-driven practice owners take back their time and clear the path to establishing themselves as leaders in their specialty, so they can enjoy exquisite fulfillment.

We are opening doors for a new cohort in mid-June ‘22 for our Time Leadership program. If you’re ready to get clear about your goals and aspirations, buy-back up to 5 hours per week for the rest of your career and scale your practice, you want to be there. Join providers just like you from around the world to learn and grow together. This peer learning intensive is limited to 8 participants.